Bloomberg Oil fell in New York after an industry report signalled another increase in US crude stockpiles, while the spread of the coronavirus continued to cloud prospects for an economic recovery. Futures dropped 1.6%, extending the decline after settling at the highest since early March on Monday. The American Petroleum Institute reported that inventories rose by 1.75 million barrels last …

Bloomberg Airlines may be struggling to survive the industry’s worst-ever downturn, but investors in Iceland reckon the time is ripe to launch a brand new carrier. Play Air aims to commence flights this fall with a plan borrowed from Wow Air Hf, which collapsed in 2019. Like Wow, it will seek to exploit Iceland’s position in the North Atlantic to …

Bloomberg Pakistan said the Airbus SE A320 crash in a Karachi neighbourhood last month happened because of errors made by the pilot and air traffic controllers (ATC). Both engines of the state-run Pakistan International Airlines Corp plane were damaged during the first failed attempt at landing at the airport, aviation minister Ghulam Sarwar Khan told lawmakers in parliament. The aircraft …